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Us 23, Irs 9, The Irs 7, Spiriva 6, America 6, Benghazi 4, New York City 4, Copd 3, Delta 3, Grover Norquist 3, Samsung 3, Siemens 3, China 3, Tesla 3, Washington 3, New York 3, London 3, Neil 3, Obama 2, Underarm 2,
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  FOX Business    Varney Company    News/Business.  
   Wall Street news. New.  

    May 13, 2013
    9:20 - 11:01am EDT  

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♪ imus in the morning ♪ >> good morning, everyone. what a way to start the week, just look at what's going on. the irs conducted sweeping checks of conservatives and they did it during the presidential election. and a date a breach, some would say an ethics breach at bloomberg. that's the only company founded by the mayor of new york. a report that the president will delay a decision on the keystone pipeline until the end of the year or maybe even into next year. the elites, still showering the white house with money. mr. obama attends three
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fundraisers in private homes in new york city. and the markets open lower. "varney & company" is about to begin. ing ] surprise -- your house was built on an ancient burialround. [ ghosts moaning ] surprise -- your car needs a new transmission. [ coyote howls ] how about no more surprises? now you can get all the online trading tools you need without any rprise fees. ♪ it's not rocket science. it's just common sense. from td ameritrade. it's just common sense. all ations come over to mithis is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. stanng by for capture. the most innovative software on the planet... dragon is captured. is connecting todaday's leading companies to places beyond it.
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siemens. answers.
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>> monday, may 13th. do you know where your president is? the answer, he's fund raising. despite benghazi, syria and the irs intimidating the president's opponents. the obama campaign rolls on and he'll head to new york city attending private fundraisers, one by hollywood big shot, harvey weinstein. the president answered more than 223 thus far, 2-1 edge over president bush. while the irs goes after regular folks who happen to be conservative, the elites pour out the cash and keep funding the big governmentjuggernaut. as you can see, they extended
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well beyond the tea party. this will have a look at obamacare we are on the story. the wall street journal saturday, quote, fed mass exit, so, maybe ben's speech wasn't the dove that i called it last week. the journal thinks he revealed his money printing plan. is that why stocks will open lower today? we will bring you the open. it's live and it's next. what is it that makes a husqvarna? it's not all the brilliant engineering, no. it's this that makes a husqvarna!
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how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're livingonger, one thing that hasn't changed much is the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪
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>> all right. two minutes to the opening bell. we expect a drop of maybe 20 points for the dow industrials when we get going and that will keep the dow probably anded 15,100. one news item that may affect trading today. retail sales for the month of april up. 0.1%. hardly budging, in fact, this reflects a higher taxation rates that we've seen earlier this year and affects retail sales and what is basically a rather slow economy. if you took auto sales out of the picture, then retail sales dropped .1%. now, we're going to open maybe 20 points lower. i want to bring in scott shellady, because the headline in the wall street journal saturday morning and said, i'm
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quoting, scott, fed maps exit from stimulus, exit from the stimulus program. the headline suggests it's going to start tapping on the brakes. is that why stocks are down today? >> i don't think so. a little bit after squeeze on friday. it's funny after every halfway decent or job numbers, the fed putting on the brakes and we're going to get out of the stimulus. two months ago after the last decent jobs we had. we had that stinker of 88,000 and all of a sudden, it's off the board. we're going to print until sometime in 2014 and i say maybe even 2015. a record number of people on food stamps and 7 1/2 unemployment rate and we're going nowhere fast. >> i don't see signs after major pullback on the stock market in a moment. and minus 25, 20-odd points after a 15,000 dow, that's nothing, that's not a pullback? >> that's not a pullback at all. that's a statistical anomaly.
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we're going to be grinding higher while we slowly print and the 10-year rate it's at 1- and we're going 1.5. stuart: i think you're a conservative. a way to look the at tesla. the stock is up 40% in the past week, in the couple of days, actually and posted the first ever profit and did well in consumer reports and all right, nicole, are we above 80 bucks on te tesla. >> it's about 5% as we kick it off.
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79.69. so it's pushing the levels of the $80 mark and you gave one stat and i'm going to give another. in four weeks, it's up. tesla is like the stock of the year, goodness' sake. and you talk about the consumer report. the model s. 99 out of 100. we haven't seen that since years ago got the almost perfect score. >> pre-market i saw it above 80. we'll follow that for you. thanks indeed. just hit 80, there you go, it's back to 80. an extraordinary performance. i'm going to bring in gilmor moral morales, you're going to give us stocks that were heavily recommended, tesla, and others. tesla, hit $80 a share and you own it. is it going to hit 100? >> i think it has the potential to get to $100 a share easily
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and i think that what they're doing is much different than the other car companies that tried to create the electric vehicles and came up with ugly looking politically correct boxes and tesla is using imagination and the way other companies were not able to. stuart: he likes it, next case cree. they've been recommended, cree makes the led lighting systems. >> yes. stuart: which are the alternative to the incandescent bulbs we're not supposed to use anymore. you like cry, where is it going. >> i think it can make it to $80, the prior high. i see a secular score in led lighting. it has a foot hold in china. i see growth and home depot has
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licensed stock on rare occasions and they're very popular. what is key here, the company is going on a marketing campaign with advertising and i think that's going to raise consumer awareness that can further drive growth for the company. stuart: let's go to three did. that's ddd. they're the printings program. where do you see them go? >> i see it going towards $60. perhaps higher. and this is a technology and the group is on fire. and i think you're going to see, when you have stocks moving in a pack, a wolf pack as you call it. and you'll see them move together. the technology is very compelling. and i think the critical wild card for 3-d systems going forward is the consumer market. staples is going to carry their consumer 3-d printers, priced somewhere above $1,000, and i
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think there's potential for that to bump up earnings, and that's a wild card. you're not going to tell how the consumer is going to latch on to that. 3-d printers. >> a huge short interest as well. 26 million share short so like tesla. stuart: exactly. good point. gil morales, thank you, indeed, sir. >> thank you. stuart: we're talking more about the 3-d printing technology in our next hour. you saw here on varney, the 3-d printed bionic ear. you saw that last week, and wait for it. we're going to bring you a 3-d printed liver. you're right. printing a liver. we've got the company that could do that coming up in our next hour, okay? got it. the dow is now down 30 points and let's check that. we've moved a little below the 15,100 mark as we kick things off this monday morning. 15088. and some obama donors compared
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vetoing the pipeline to abraham lincoln's presidency. and we believe it holds it urgency and importance not strictly as a pipeline decision, but a presidential choice that will signal a fundamentally new direction for our nation. joining the company mnow is one of the donors who signed that letter. steve kirsch. >> i've got to tell you that reuters is reporting that the president may delay a keystone decision into the end of this year and maybe next year, are you going to call that a victory? >> yeah, i think it's a good thing to study this. there are better alternatives than investing in keystone, it doesn't give us alternative oils.
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the important goals that we should be investing? >> in your letter you linked a no on the pipeline to president lincoln freeing the slaves. i call that a bit of a stretch and i'm surprised you would use such a monumental point of history for america as a comparison with a pipeline decision. i think that's a real stretch, and i think to some people that will be offensive. >> yeah, and i can understand that. now, i didn't draft the letter and i don't particularly agree with that statement of the letter, but i think that the point is that it's important to set a goal here not to go and just, you know-- approving keystone, we're changing who we pay for oil. our goal should be, and our-- >>. stuart: hold on a second you say we're going to change who we pay for oil. yeah, i'd much rather pay the
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canadians than the saudis who won't let women drive. i'd i'd rather pay the canadians than venezuela and isn't that a valid choice. >> given those choices i agree. i'd rather much not pay the canadians at all and take the almost half a trillion dollars that we spend every single year and we spend it externally and hurts our balance of trade i'd rather spend that internally in america, making america the fuel capital of the world and rather be exporting essentially fuel to the rest of the world rather than being a net importer, that's going to help our economy. okay, steve, we've had a harvard professor on this program who says, look, the best way -- if you really want to cut co 2 emissions the best way to do it is to frack for natural gas inside the united states of
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america, of which we have an abundant supply. do you that and you'll cut back on co 2 far more than any other way possible. what do you say to that? >> i say that i think that for electricity generation, nuclear powers are our best option and for transportation fuel we can make transportation fuel from sea water and nuclear power. and it's a new process that was developed by the navy in late 2010, that most people don't seem to know about and they're actually doing it now to create jet fuel from sea water. stuart: what's the time frame on getting that -- i've got a few seconds left. what's the time frame on getting that to general usage? >> well, i think the time frame is really up to our political leaders to put an urgency on this technology 'cause the technology is really old. nuclear power technology, the first nuclear reaction 50 years ago. the process itself was invented almost 100 years ago.
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the germans used it know world war ii to produce gasoline. it's a known way to produce fuel and here the new innovation is producing fuel from sea water plus nuclear power, can give us a variety of transportation fuels and create plastics from it and $3 a gallon gasoline, that's huge. stuart: okay, steve, look, i'm terribly sorry, i'm out of time. thanks for joining the debate. we want a free and open debate and you're part of it. we appreciate you being here. thank you, steve kirsch. >> thank you. stuart: seven early movers, where are we on a day when the dow is down 3 on a monday morning? first of all, barons' the bounce for western unions, that's what they're saying. it's on the cover. barons' bounce nor western union. the stock is up a buck. we've got something wrong with the graphics so i can't actually read the thing easily. don't worry about it. it's up 1%. british paper, the independent reporting that hsbc, the old
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hong kong to shanghai banking corporations may announce more lieoffs. down it goes. we talked about tesla, the stock has been 0 a tear recently, up about 50% in the past week, stunning. the fda will allow generic competition for a pain killer. there it's up again. and k.f.c. parent yum! brands, 29% drop in sales in china because of bird flu, down 1%. and elan strikes a billion dollar royalty deal with the-- i'm not sure, thera up. and cereal maker disappointing profits. where are we going next? irs targeting conservatives and worse than first reported.
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sets a dangerous precedent for anyone critical of big government. this is the story of the week in my opinion. when if ever will this administration be held accountable for anything? we'll deal with that next. clients are always learning more to make their money do more. (ann) to help me plan my next move, i take scottrade's free, in-branch seminars... plus, their live webinars. i use daily market commentary to improve my strategy. and my local scottrade office guides my learning every step of the way. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade... ranked "highest in customer loyalty for brokerage and investment companies." ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind...
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for unusual activity, you could also set up free account alerts. okay. [ female announcer ] at wells fargo we're working around the clock to help protect your money and financial information. here's your temporary card. welcome back. how was london? [ female announcer ] when people talk, great things happen. >> monday morning down a little on the dow. 15,068. i want to getack to the outrageous story about the behavior at the irs. i want to bring in eric bolling, the star of "the five" on the fox news channel. this is outrageous, and i get up monday morning and see this spreading. it's not just tea party people, it's anybody who doesn't like big government. it's any conservative. that's extraordinary stuff. >> it's anyone who called out the administration. this is a tyrannical government. this is the administration
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putting, probably putting pressure on all its agencies to, now, do things their way and when they don't, they get investigated. the problem is, the irs has power. power to inflict fear, they have power to take money, take property, they can do so many things. when the irs is playing favorites, it's a huge problem. by the way, very quickly, jay carney was asked about it on friday and put his hands up, we'll look into it. that's a big problem. stuart: "the washington post" had a very good read on this today and they looked at the waco tea party which had been requesting tax exemption, the tea party there, they had to produce all of their transcripts of every meetings, all speakers, all interviews, all media coverage and details of all membership. can you-- of course they didn't get tax exemption. they couldn't participate in the election campaign the at all. >> right. and the effect on them was to chill their political-- >> here is the question, i don't know the answer.
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they were looking into 501(c)(3) and 4, and tax except for reasons. there's a group that hates fox, attack us every day and probably 5,000 personal attacks on me alone, called "media matters for america", i believe it's 501(c)(3). i'd love to know if they were targeted. if they're only picking 501(c)(3)'s and 4's on the conservative on the right there's a massive problem. stuart: we find a somewhat similar story with bloomberg, where bloomberg reporters reached over the firewall and looked at the movement of financial institution people, not trading, i don't think, but the movement of people so they could tell a lot about that person, that institution, and what they were up to. what do you make? >> i had a bloomberg terminal a background on it, $20,000 per
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year per terminal. an office of ten terminals $200,000 just for these alone. goldman sachs figured out that people, reporters at bloomberg television were accessing these terminals, the terminals held by goldman sachs people and finding out where they were going, when they logged in, whether they were logging in in new york, if they were logging in in l.a. or logged in and not only that looking the at the pages, tens of thousands to look at. so if a company was focusing in on an area, let's say bonds or a specific bond offering in an area, they could potentially see that goldman may be interesting in making a bond deal in an area. it's incredibly dangerous. michael bloomberg made his billions on this. the terminals alone account between 5 and 6 billion dollars in revenue to bloomberg. 's going to protect that very, very carefully. stuart: maybe i'm naive. i used to trust authority.
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i don't anymmre. >> stu varney, you're the not naive. listen, trust nobody, remember the "x-files," the show, bump of my favorite shows, trust nobody. stuart: you watch a lot of tv you do. >> give me a pat on the back about being right about the markets and the stocks and the equities and employment markets going on. stuart: no. >> aren't you going to look in the camera and say to your viewer thbolling sees dead peop in the markets? >> eric bolling, the star of the "the five". and what's gold doing on a day like today? what is gold doing. >> should do that first. stuart: what do you mean where did i hear that first? >> stuart, i walked on the fox stage five, six years ago, gold, $600 an ounce i said own this. at 1650 i came on the shows, don't own gold.
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you know the new call, real estate. stuart: i made that call six years ago. >> here we go. [laughter] thank you so much. benghazi, and the irs, big blunders for the president, maybe. my take object the obama administration and trust. will they ever be held accountable? that's next. ♪
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e. stuart: headline in today's new york time. judge napolitano he talks about what penalty will be levied and a witch hunt. the leading anti-tax group. were they target snd a brand new hour of "varney & company" starts in a couple of minutes. a trust. didn't know it at the time. and last season's election campaign affected by this--
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bill o'reilly show the mother of one of the americans killed said the president misled her to her face about the attack. when he knew the truth, mr. obama told her hat chaied, that's a serious, serious breach of trust. and criticize the way that the government was run and offered education on the word tea party and you got extra irs scrutiny. and it would be deliberate intimidation of the opponents. president obama's campaign benefitted from that. look what happened here. it uses the tax system to its own advantage and richard nixon did that and you cannot trust
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the government that covers up the incompetence and you cannot trust the political apparatus that would do anything to win. here is the most troubling question, and will anything happen? will this administration be held accountable? can they do anything they like and get away with it? and by the way, the president attendance three fundraisers in new york city today. mith is for real this time.
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stuart: monday, may 13, and new developments. the irs conservatives much more broad than the tea party. criticizing the way the government was run. that is political intimidation during a presidential election. how is the media reporting this troubled story? we have the oyster farmer environmentalists say want to shut down. a man who is creating in his lab a human liver. if that is not enough for you, the man who will guarantee college graduates a job in 60 days. ♪ all right, everybody, we begin the new hour with the latest on the irs targeting conservatives. it went back to the year 2011 but this story took an important turn in january of 2012, that
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would be the election year. rich edson joins us. tell me why january 2012 is the important milestone here. speaker that is when the irs began targeting organizations involving military spending government, educating on the constitution in the bill of rights and social economic reform. the scrutiny of organization with tax exemption. the official in charge of tax-exempt organizations is aware the irs is targeting groups focus on issues like government spending and debt and taxes all the way back in the summer of 2011. stuart: in 2011 was tea party, patriot groups, 9-12 groups. they got the scrutiny. 2012 expanded to conservatives, that is the point, right? speaker that is right. stuart: good background stuff.
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i just want you to look at this headline from today's "new york times." irs focuses on conservatives gives g.o.p. an issue to seize on. are you kidding me, this is just an issue to seize on? you scrutinize the media, what do you think of that headline? speaker it is "the new york times" take on how to turn something into oh, republicans turning another issue making it political. at least put it in the front page but they spell it out i take it away from being the awful scandal that it is. stuart: what about the rest of the media? what about the rest of the establishment media, how are they characterizing this? >> first of all four of the top
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10 newspapers put it on the front page. the "wall street journal," "usa today," proposed on the front page and that is good, but if you look yesterday they did the same kind of thing, characterizing it as an obama problem, not so much the massive abuse by government. some of it was good coverage. stuart: i want to change things briefly. that is the coke brothers on the possibility they would take over the "los angeles times." there conservatives, "los angeles times" as uber liberal. how is a media reporting on this fight for the soul of liberalism in california? >> look at all of these journalists who want to stop, that has been the issue. the nalism union coupled
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with a whole lot of other unions is working hard to stop it. a big bunch, a whole bunch of unions have gotten together, trying to use their influence on pension funds to try to tell the groups and the tribune they will suffer for it. there is none of this freedom of the press issue. stuart: i just want to run this by you. it seems established media is now on the defensive. challenged by benghazi, challenged with the pipeline. they have turned a little bit defensive. tell me what you think. >> i think you are right right now. the question doesn't stick.
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that is why they came after 46 questions on friday because they feel they are being lied to by the administration. they don't like that. stuart: thank you very much. later this hour, two more updates, first we will ask the judge who is going to be held accountable for this. any punishment involved? and then, the grover norquist organization, where they targeted? find out because those two items are coming up. right now i have liz with me and charles payne. you testified before congress about precisely this irs issue, didn't you? liz: political audits going back to fdr. we don't know if the white house is involved in this. the problem is so serious. stuart: whether or not he gets tax-exempt status will be
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directed to the office handling all these requests for tax-exempt status and they say it was that office visit. do you think they would do this blanket probe of conservatives on their own initiative, anybody in the ministration knowing? highly unlikely. liz: i can't say either way, their job is to stop profits for sure. what we need to know, under nixon it was changed, fdr,der tn administration. listen, they can deny tax-exempt status if your group is in politics. but with asking about the dollar amount of dues paid, how deep to these probes go, how deep does it go? stuart: the tea party asked for tax exemptions and asked by the
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cincinnati office of the irs asked all transcripts of all media every speaker they have ever had any interview, transcript, anything done anywhere, all media coverage and information on the membership, that was demanded. liz: did they do the same thing for left-wing groups applying for nonprofit? charles: at the very least this is done with a wink and a nod by the white house, somebody knew more about this. this is getting the benghazi treatment. which is, think about any other group, racial group or any other sort of group that wasn't specifically targeted by government agencies. liz: it is such a dangerous thing. charles: that is what susan
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collins said, it is chilling and frightening to think if you're on the wrong side of a administration, you could be targeted. stuart: they could not indulge in what they wanted to do. charles: going counter of the administration perhaps they could feel like they are a target. who wants to run the country like that based on freedom? stuart: we are on it all day. we are down 40 points, that is not a huge selloff with a $15,000 jones industrial average down 41. netflix on the upside again? nicole: now we can say netflix may be the stock of the year, four and a .5% this year 2013 up 145%, we know what hastings has been out touting the online streaming services are the way of the future, forget regular
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television, it will be out in the years ahead. beefing up the programming for those subscribers. they were raising the fees, they split the division, we thought that wasn't going well. they bounce back fast. stuart: i don't think i like a company whose as television as we know what is done. nicole: i am with you. stuart: give me jcpenney. what happened? nicole: another great performer. you've already had the line of investment, continuing to do well in this last quarter. up 4.4%. i don't know if your viewers remember, remember you would push the button that had the wire connected to the tv, you remember that?
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stuart: yes, i do, i do. i remember the days there were only broadcast over the airways television. nicole: that is when you had rabbit ears with the aluminum. stuart: trying to get the right picture. back in those days. they came to your house to fix it. charles: you remember when the wireless -- stuart: shut up. that was a fine hit. dow jones industrial average down 36 points. kessler is doing extremely well, $80 per share on tessler. triple the, which you liked, tesla, which you liked, all of them are doing well. charles: if you didn't like them, what the hell.
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stuart: our next guest runs a family-owned oyster business which has been operating out of california since the 1930s. his long-term lease expired last year, he says it is not being renewed because of a fight with environmentalists. here is kevin. welcome to the program. as i see it, environmentalists want complete any form of farming or resource usage, have i got that right? >> that is what it appears. it is based on a false premise there is some environmental harm. stuart: what do they do to the environment that you don't like? >> they make claims we're harming the environment by making noise and damaging the soundscape and we endanger
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harbor seals, that is what the national park service did a study in environmental impact statement and now have found both of those claims, the only claims, are both false. as a matter of fact, today's scientific misconduct claim was charged against the defense of the secretary interior, secretary jewell, for misconduct around the falsification and fabrication of harbor seal disturbance data. stuart: at the end of the day have you got enough min money to fight them in court? >> well actually, i've got to tell you, you called it a family-owned farm, which it is, but it is a community battle. the entire north bay of the san francisco bay area have rallied around us. four separate law firms without that sort of help this wonderful
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community would have been driven out of business before now. stuart: you knew you were going to be at least ending in 2012, is that correct? speaker that is the same of all the leases surrounding our lease, it is explicitly renewable, all of the ranches have been renewed and we hope the oyster farm will be treated like everybody else and we will be able to remain in the working landscapes in the middle of the national seashore. stuart: we want to keep in touch with you, i want to see how this thing comes out. can they put you out of business, we want to know. come back real soon. thank you, kevin. >> thank you for having me. stuart: what do you think after that? liz: it is shocking.
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if such bigger, pressing problems. stuart: they don't want you to do anything in the great outdoors, don't do anything. if you make a noise, you are disturbing somebody's habitat. humans have no role there whatsoever. that is not a tenable position. charles: it is completely outrageous. you wonder where it stops. right now they have this hubris. stuart: we still don't know the full scope of the irs scandal. how many folks and groups were targeted for being critical of the government. who will get the blame? will anybody be punished? the judge is next.
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stuart: a disappointing reading on retail sales, gaining 0.1%. and that was higher than some people expected, nonetheless retail has dropped .1. we are up .01%, have a minimal impact on the market so far today. samsung said it made great mobile technologies to install fiv5g speeds. samsung did caution would take years to develop 5g.
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perhaps 2020. but 5g makes an appearance. in a city shows nearly half of all the drivers text the wheel. they're more likely to drink and drive and not wear a seatbelt.
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thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. stuart: here's a headline for you, detroit is flat broke and the financial situation a total mess. ill advised, unacceptable, mostly words emergency managers
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us to describe the financial situation. let's get back to the irs scandal, please. judge andrew napolitano is here. i want to know who is going to be held accountable for this. >> that would depend how far of the government food chain this information was or the consent to do this was good if for example the head of the irs know about it, you have a very serious issue on your hand. low-level people doing it on their own because they thought this was consistent with irs situations, we have a less serious issue on our hands. we have a violation of equal protection. the government is obliged by the constitution and federal law to treat similar entities in a similar way and not take into account the manner in which they exercise their first amendment
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freedoms. median matters that be treated exact same way as americans for prosperity even though they are really bookends of the political spectrum. stuart: is it possible it was low rogu rotavirus people in che of deciding if a group was eligible for tax exempt or not. that never filtered through to the top level in washington and it was never influenced by the obama administration? >> it is fanciful committee theoretical, but in the practical world because of a number of situations that use the word constitutional freedom or patriot or don't tread on me, it would be inconceivable upper-level people would not know about this or there would
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be a track record because the type of investigation triggered by these people is involving too many human beings and a pattern would be obvious to upper management which ought to have stepped in. stuart: you could maybe fire the lower-level people but the section on any upper-level people or the administration is political. >> it is not prosecution. the congress has not written statutes for example driving the wonderful researchers here at fox driving them crazy doing our own research, there is no general misconduct in office statute for federal employees whether that be a janitor, anybody in between. there are statute unique, and they prohibit things like looking the other way and bribery. they do not treat entities
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differently. stuart: it makes no difference because the campaign won the election. case closed. >> dark clouds are common. impeachment is the constitutional ramification be at stuart: thank you bear. check this out, 3d printing of liver tissue. how far away are we from printing an entire human liver? after the break the company that could do just that. do not miss this, please. ♪ we went out and asked people a simple question:
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how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed much is the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪
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to enjoy a♪l of these years. (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities.
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stuart: in the first hour of business will stabilize with a loss of 40, maybe 50 points just under 15,100. that is where we are now. charles is here, making some money for us. charles: we have done lot of these medical companies. making two incisions, one in the neck, one in the collarbone and
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it stimulates the brain. they have used it for epilepsy. there's a good chance the government can reimburse the centers for medicare and medicaid, that would be huge. and they will use it for depression and even probably chronic heart failure. i like the company's degree on the fundamentals, but they have been beating the street, earning estimates have gone up, 40% every year analyze growth in the company so i'm looking forward to getting back to 57 or maybe even a lot more. stuart: estimates the brain, works wonders maybe on some conditions. stuart: i have more on this stuff because last week we brought you 3d printing a human ear and we asked what his next, a nose, a foot? we have a man with us now whose company printed liver tissue. he is with us today, chairman
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and ceo, he is with us. welcome to the program. >> thank you for having me. stuart: you are welcome, sir. you can print out human liver tissue? have i got that right? speaker that is correct. we have a 3d organic printer that lays down the cells. stuart: you have the tissue, if he can string it together are you in a position down the road to create a human liver? >> we have to walk before we can run but what we're doing is building a platform. you have a the milestones you can hit, so find the shortest term for investors. find better drugs or drug efficacy and safety to improve drug outcomes.
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we can use the platform and academic research labs to build larger tissues. stuart: i'm kind of off-base on how many years before your printing out the liver, that is way out there. what is toxic to liver tissue. right? >> the liver is one example, we have lung tissue, bone in the lab and a number of other tissue not only for studies but drug discovery. about 40% of drug costs go to drugs that never make it. if you hear about a drug that fails due to identified lung toxicity, we don't have a way to know how the drug will handle in a human liver. you can more predictive of how the drug will behave like us to clinical trials.
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stuart: what do you make it from? what produces the liver tissue? >> that is a great question. it can actually take any cells as its source. take a research cell line for making a piece of liver tissue that will be useful we start with human cells. you can make them into a large number of liver tissues in a platform useful in research. stuart: kevin murphy, the ceo of a publicly traded company, i believe. >> that is correct. stuart: keith murphy, thank you very much for joining us. please come again. >> thank you. stuart: any comment? charles: it is fascinating. i have not thought about it using it step-by-step for research.
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stuart: this is for toxicity tests. lung tissue, bone tissue. charles: i think it is more exciting than the next feature of the samsung phone. stuart: what turns you on more, liver tissue or 5g? charles: liver tissue. the way i have been drinking in my lifetime, are you kidding me. stuart: you told us but a drink that is 190% proof. charles: everclear. stuart: somebody from grover norquist american for tax reform the top antitax group in washington joins us to respond to the irs.
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stuart: a data breach, some would say in ethics breach at bloomberg. that is a huge financial company founded by the mayor of new york city. a lot like big brother to me. reporters instructed to use or access the financial data terminals to get subscriber information. liz has been following the story and knows more about it than i do. what exactly did they do?
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liz: reporters claim they were taught to breach the firewalls so they apparently were looking into what the subscribers to the terminals, what stocks they were looking at, the news information they were looking at. also for the treasury and federal reserve, the federal reserve telling foxbusiness it is looking into this and they say we're getting an edge over news media rivals over confidentiality of their clients and that is such a dangerous position. stuart: limburg media operation looked over at the data terminals to see who was logging onto those data terminals, where they were and what they were looking at. liz: and even tracked down the london wales trader because he had not logged onto his computer terminal in a while we wanted to know if he had left the company to feed the competition. almost nine out of 10 of their
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revenues come from the bloomberg terminals. a client had to say this is bad and did not fix it ahead of time is really dangerous for bloomberg news to be in that position. stuart: i want to bring in a top lieutenant for grover norquist, big brother for the irs. you oppose big government, have you been scrutinized by the irs? >> we have been exposed to this odd behavior before. we have not been in this ghost hunting, but any conservative group in town unfortunately has to be aware of this kind of a threat from the government and probably endured this kind of scrutiny before. stuart: it is this grouping
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penalized. we don't know it is the other side of the political fence. >> we certainly haven't heard that could be the case. the irs is targeting groups by flagging words such as tea party, patriot. when so far to try to make america a better place. this is something that should be a great concern to free enterprise, free market and free speech, it is something that should be a concern to a lot of taxpayers in the next couple of years of the obama administration because of course things like the health care law, other important pieces are being demonstrated through the irs. stuart: we want to carry this forward. obamacare is having real trouble being in demented, when it is up and running in january 2014 it is the irs which polices obamacare.
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you are fined by the irs, you don't have health insurance. if you advance this story, it is chilling, indeed, if you're a critic of obamacare. >> absolutely. they need to give all this information to the irs. you have to give the irs your health care id number, the insurance provider has to give it to the irs. this is information they will be privy to an have to come out and if they don't have enough with the correct information. stuart: i don't think there's anything your eye are doing about it. >> we've had a lot of efforts in the house of representatives to appeal obamacare.
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not acting on the job killing tax increases in obamacare and the repertory burden the american people are going to have to shoulder. stuart: carrying it forward. thank you very much, indeed, we appreciate it. thank you. unemployment still high, college grads can't get a job, but after the break a company that will guarantee a college grad a job. comes with a price. how much? [ babies crying ] surprise -- your house was built on an ancient burial ground. [ ghosts moaning ] surprise -- your car needs a new transmission. [ coyote howls ] how about no more surprises? now you can get all the online trading tools you need without any surprise fees. ♪ it's not rocket science. it's just common sense. from td ameritrade. it's just common sense. always go the extra mile.
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to treat my low testosterone, i did my research. my doctor and i went with axiron, the only underarm low t treatment. axiron can restore t levels to normal in about 2 weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant and children should avoid contact where axiron is applied as uneected signs of puberty in children or changes in body hair or increased acne in women may occur. report these symptoms to your doctor. tell your doctor about all medical conditions and meditions. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet or body swelling; enlarg or painful breasts; problems breathing while sleeping; and blood clots in the legs. common side effects include skin redness or irritation where applied, increased red blood cell count, headache, diarrhea, vomiting, and increase in psa. ask your doctor about e only underarm low t treatment, axiron.
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stuart: hhs secretary says health industry officials asking them to donate money to fund implementation of obamacare. this comes after congress reportedly rejected the obama ministrations requests for additional money to setu set upe new health care law. so you go to private enterprise, can you give us some money? at the box office, "the great gatsby" had a great opening. taking down iron man three. making $72.5 million breaking be total up in the u.s. barbara walters says that she will retire next summer. she supposed to make her retirement official today on "the view." the first woman to host an evening broadcast back in 1976.
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stuart: look at toyota, yet another high. go, nicole. nicole: pretty amazing, continues to do well. as we were looking over the last several years, we remember toyota below $70, remember our conversation when we said did it hit $70 as it starts to come back and here it is at new highs.
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doing well, as you noted many times, the beaten-down yen and how it helps the bottom line obviously selling people around the world. stuart: up goes that stock. double what it was that had that unacceptable drop. our next guest, wait for it, he will guarantee a college graduate a job in 60 days. the founder and the ceo of blue trip executive. just talking during the break my colleague charles payne said to me guarantee a college grad a job within 60 days, he said all right, how much in which job? how much do you demand of an apology grad to get that 60 day
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job? >> the gift certificate, the career card actually $80, but before we talk about that, i want to dig into the eg eager picture of unemployment. stuart: i am very sorry, i would love to have time, but i don't. i can buy for $80 a gift card, i give it to my child in that child takes it to you and you get it in 60 days, is that correct? >> how it works as we provide an automated system to get access to hidden jobs, that is the real trick, people get diverted by job postings in the online social media app that tends to work. stuart: you don't say here is this job, your dad paid $80, here's the job.
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you tell them how to go and search. >> we are not granting people jobs, we are providing the fast track to your ideal job in the process and how it really works, how people really get jobs and on our website, we lay it all out. the biggest problem is most of the time people spend looking for jobs is just wasted time. you take that out and you take the parts that are effective and you condense them. stuart: you are guaranteeing the witch job? >> the money back guarantee, we are still in doing that, it is almost impossible to go through this process and not end up finding the job that you want. the main point is jobs are about people, we help people focus on
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people, the technology we offer makes you more human, not less. in that process of connecting with the people that will help you find jobs. stuart: thank you so much for joining us. thank you very much, indeed, scott. show me the big board, we have paired the loss. now down 27 points, kind of flat this monday morning. still well above 15,000. a college degree keeps on getting more and more expensive. one reason why, the college president pays really well. even the ousted president at penn state got a dig payday. find out how much in a moment. no. why? apparently my debit card is. what? i know. don't worry, we have cancelled your old card. great. thank you. in addition to us monitoring your accounts for unusual activity, you could also set up free account alerts. okay.
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[ female announcer ] at wells fargo we're working around the clock to help protect your money and financial information. here's your temporary card. welcome back. how was london? [ female announcer ] when people talk, great things happen. ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. a brand new start. your chance to rise and shine. with centurylink as your trusted technology partner, you can do just that. with our visionary cloud infrastructure, global broadband network and custom communications solutions,
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stuart: oscar-winning producer who produced obama 2016 wants michael moore off the board that chooses which documentaries are nominated for oscars. he thinks michael moore is too biased. go. charles: all three of the governors are ultra-biased, ultraliberal kind of guys. they say we have change the system, everybody can vote on them but the fact of the matter is these three guys making suggestions because everyone in the academy doesn't watch every
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single movie, i think there is a legitimate beef here. before you get a boring list of documentaries if you don't look at both sides of the aisle. stuart: while you pay a old closed for college, median pay for college pay for professors is barely up. the ousted president took home $2.4 million last year. including taxpayer-funded bonus. liz: there have been other instances of fatcat pay. something anytime in th a middle-class family is getting gouged, this story really hurts given what tuition costs are for middle-class families.
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it is big flashy cars, the parking lots, vacations and i will tell you something, this is the most underreported story out there in the media today. stuart: some of them are watching billion dollars enterprises, they are in charge of the education of thousands of youngsters, very responsible job. liz: they also hire an army of legislators to help them do their job. they don't have to pay taxes on the income they pull in. help middle-class family and earn their pay by lowering and using your endowment. charles: they live like kings and queens, it really is a shame.
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tuition has outpaced inflation. it gets no coverage at all he ha.liz: is about the business. stuart: more after this. for seeing your business in a whole new way. for seeing what cash is coming in and going out... so you can understand every angle of your cash flow- last week, this month, and even next year. for seeing your business's cash flow like never before, troducing cash flow insight powered by pnc cfo. a suite of online tools that lets you turn insight into action.
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how old is the oldest person you've known? we gave people a sticker and had them show us. we learned d a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed much is the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ toare you still sleeping?rs. just wanted to check and make sure that we were on schedule. the first technology of its kind...
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>> this is so deeply concerning. i do not see how that is a violation of tax law. the obama campaign was saying tea party is racist. precisely, at that moment. they were being called a racist organization. charles: it is interesting because we are talking to new what and when. apparently she was briefed in 2011. the program expanded and became more after that. apparently, there is a lot we will get into this week. this is not good. i think it smells bad and it will be worse than you think. liz: the irs is forcing healthcare. stuart: well said. thank you, everybody. dagen and connell, it is yours.
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dagen: thank you, stuart. a history of how well the irs has been used for political purposes. connell: good morning, everybody. i am connell mcshane. dagen: we learn more about the targeting of conservative groups. pressure mounting on the white house to act. connell: bernanke showing us the exit. new details on the feds plan to stop pumping money into the economy. dagen: president obama hosting britain's prime minister. we will take you there live. connell: k.t. mcfarland is just back from china where she retraced the steps of president nixon's visits. that is just ahead on markets now. ♪

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